Normal Balances of Accounts Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders’ equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit. Item Type of Account Debit or Credit a.  Accounts Payable     b.  Accounts Receivable     c.  Cash     d.  Common Stock     e.  Dividends     f.  Fees Earned     g.  Office Equipment     h.  Rent Expense     i.  Supplies     j.  Wages Expense

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A:

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.